Confident of growth, defending market share will be a challenge for Voltas

Competition may also disrupt profitability

Confident of outperforming its peers and the industry growth rate, Voltas, India’s largest air conditioner (AC) manufacturer, in a recent meeting with analysts, said that the demand for cooling products remains strong, even for the remaining part of FY20. The management draws confidence from its performance in the first half of the current fiscal, where revenues of its unitary cooling products (UCPs, which include ACs) segment grew by 39 per cent year-on-year (YoY), ahead of industry growth of 33 per cent. Optimistic commentary explains the 45 per cent year-to-date gains by the Voltas stock, though in the past month, it